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China's machinery industry posted double-digit growth in January-August 2021

Asia / Engineering

During the reporting period, the total profit of the aforementioned enterprises increased by 16.4% in annual terms and amounted to 980 billion yuan, according to the Ministry of Industry and Informatization of the People's Republic of China.

China's machinery industry posted double-digit growth in January-August 2021

China's engineering industry maintained robust growth in the first eight months of 2021, posting double-digit growth in revenue, profit and value added, official data showed.

According to the Ministry of Industry and Informatization of the PRC, the total operating income of enterprises in this sector from January to August amounted to 16.49 trillion yuan (about 2.55 trillion US dollars), an increase of 21.5% year on year. >

During the reporting period, the total profit of the aforementioned enterprises increased by 16.4% on an annualized basis to 980 billion yuan, the ministry said.

Between January and August of this year, the added value of China's machinery sector grew by 16.2% on an annualized basis, which is 3.1 percentage points higher than the growth rate in the country's industrial sector over the same period.

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